GDDY - GoDaddy To Gain 'Outsized' Benefits From AI Tools: Analyst | Benzinga
RBC Capital Markets analyst Brad Erickson upgraded GoDaddy Inc (NYSE: GDDY) to Outperform from Sector Perform rating at an increased price target of $124 from $90.
The analyst says that GDDY is an under-owned, durably growing cash machine with a dash of AI.
Although the 2023 web design industry top-of-funnel trends have somewhat underperformed expectations due to continued churn post-COVID, the analyst sees GDDY's uniquely hedged customer acquisition channel as a tailwind and expects it to gain outsized benefits ...